New generation of cattlemen buy into auction market businessF.Ganje - May 16, 2017

FAITH, SD – An eye for good cattle and a strong belief in price discovery the auction way proved to be a good match for both the seller and the buyer, as the Vance family of Faith Livestock Commission Company announced the sale of the business at their May 15th sale.

Standing by and ready to take up the reins are two young cattlemen, born and ranch-raised around the Faith country who are enthusiastic and looking forward to getting started in the auction market business, according to Dace Harper, who along with Mason Dietterle have purchased the market.

“I’ve been an auctioneer for the last seven years, selling in South Dakota, Montana and Nebraska,” shares Harper. “When I heard the market was possibly for sale, I thought I should be involved in it.”

For 57 years, the Vance family in Faith have provided the means for livestock producers to publicly market cattle, sheep and horses. In the almost six decades they have been serving a primarily west river customer base, the originator Lawrence Vance, followed by his son Gary and eventually grandson Scott have seen and experienced historic times in the livestock industry. Both Harper and Dietterle grew up with that as well. Their first place to market cattle was Faith Livestock Commission Company.

“I believe 100 percent in the auction market business,” says Dietterle. “Both of us are young but we’re both hungry and want to get out there and do the best for everybody.”

Plans are for the sale to be complete by the first sale date in June. Well known auctioneer (and Mason’s Dad) Doug Dietterle will be on the block and in the field. The Vance’s strong reputation is expected to lead the way for a smooth transition and the opportunity to lay the groundwork for future growth.

“When you sell cattle at auction,” says Harper, “you know what you’re selling and the buyer knows what they’re buying. For me, as a past consignor, I like to bring my cattle to town to showcase what I’ve done. When you’ve got good cattle, it’s nice to show them off.” He adds, “You can price cattle out in the country but nobody is going to give you their highest bid. The only way to get your highest bid is at auction.”